North Andover Maintains AAA Bond Rating

Earlier this summer, S&P Global Ratings reaffirmed the Town of North Andover’s AAA bond rating and provided a Stable outlook on the Town’s outstanding and pending bond issuances. This AAA rating was assigned for both general obligation (GO) bonds and as a rating for Town’s long-term GO debt outstanding.

Town Manager Melissa Rodrigues stated that, “Maintaining our AAA credit rating is a clear reflection of North Andover’s strong financial management and commitment to long-term fiscal stability. It re-affirms that we are on the right track financially and should continue to stand by our financial policies. This rating will allow the Town to continue to roll out Facilities Master Plan II with the least amount of impact on our taxpayers.”

The report reads that, “North Andover’s general creditworthiness is supported by an affluent and growing local economy and robust, forward looking management practices.”  

Municipalities have their financial conditions re-evaluated every time they issue new long term debt. This rating was done in order to bond for the Middle School addition and renovation.

 AAA.pdf